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RAPAPORT... The Israel Diamond Exchange (IDE) will reopen its trading floor this Sunday for vaccinated members, recovered Covid-19 patients, and those who can produce a negative virus test result from the previous 48 hours.
New bourse president Boaz Moldawsky and the IDE board made the decision on Wednesday following a national drop in infections, the exchange said. People inside the hall will still have to keep a distance from each other, but there will be no number limits.
The hall has been closed since September because of the pandemic, with a few smaller trading rooms available for people who wanted to conduct business. One of these will remain open for those who do not meet the criteria for entering the main floor.
With this change, the IDE will be fully open. This comes amid a rapid vaccine rollout in the country, with more than 5 million of Israel’s population of around 9 million receiving at least one dose.
However, there is currently no date for the International Diamond Week in Israel, which usually takes place inside the trading floor in February, the exchange said.
The pandemic devastated Israel’s diamond sector in the first half of 2020, with a recovery occurring later in the year. The country’s polished-diamond exports rose 24% year on year to $251.6 million last month despite a nationwide lockdown that lasted from late December until early February. Jewelry demand in the US and China supported trading, the Ministry of Economy and Industry explained.
Image: The Israel Diamond Exchange trading floor during International Diamond Week in Israel, February 2018. (Three Photographers)
Source: Rapaport 11-03-2021
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